LOS ANGELES — The United States Hispanic Chamber of Commerce said Monday that it will hold its 2002 convention in Los Angeles, reflecting the lead the city has taken in the surging Latino marketplace around the country.
Normally attracting about 10,000 delegates, the annual convention will be held this year in Washington D.C. on Aug. 14-17, said Ray Arvizu, chairman of the national chamber.
The event allows Latino entrepreneurs the chance to flex their economic and political muscle by calling corporate and community leaders to task on issues that affect the community's economic development, Arvizu said.
That includes better start-up programs for small businesses, the backbone of the Latino economy in Southern California responsible for $47 billion every year.
There were about 440,000 Latino-owned businesses in Los Angeles last year, said Michael Jimenez, vice president of the city's Convention & Visitors Bureau. Nationally, Latinos own about 2% of all businesses.
"The entire business community should take note that Hispanic business has arrived, and it is going to play a great part in the U.S. economy from here on out," said Assemblyman Antonio Villaraigosa, (D-Los Angeles).
